I recently spoke to a senior manager at a top 40 professional services firm. The SM is technically brilliant, good at managing junior staff and looking to be promoted to (associate) Director. He explained that despite being great at his job he still only ticks four of the ten competencies for promotion. I asked which ones he still had to work on. His response: bring in £xk of work, marketing for the firm and business development, external presentations etc. He has been at his current firm for the entirety of his career, yet the firm has not invested in him beyond technical training. Now, to promote him, they require him to bring in work!
Business development and the confidence to speak in front of a crowd are not overnight skills and they Can be developed. These “softer” skills are unnatural to many tax advisers but are essential to progress and build a successful career. With young professionals finding it the hardest to work from home, this demographic is likely to be significantly impacted by redundancies and as such these business skills are more important than ever.
LTS promotes networking and development of business skills for young professionals. Of course the initiative was going very well until March 2020 and will start again as soon as we are allowed. For those with up to 10 years PQE, consider attending events to practise networking and for those of you who are more experienced, please encourage your younger staff to get out and network. The future of tax depends on it!
Memberships for 2021 are now on sale and can be purchased on our website.